XML 27 R16.htm IDEA: XBRL DOCUMENT v3.24.2.u1
SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 10: SEGMENT REPORTING

 

The Company operates through three segments: CVD Equipment, Stainless Design Concepts (“SDC”) and CVD Materials. The CVD Equipment segment manufactures and sells chemical vapor deposition, physical vapor transport and similar equipment. The SDC segment designs and manufactures ultra-high purity gas and chemical delivery control systems. The CVD Materials segment provides material coatings for aerospace, medical, electronic and other applications and is not considered a core business of the Company. The Company evaluates performance based on several factors, of which the primary financial measure is income (loss) before taxes.

 

The Company’s corporate administration activities are reported in the “Corporate” column. These activities primarily include expenses related to certain corporate officers and support staff, expenses related to the Company’s Board of Directors, stock option expense for options and shares of restricted stock granted to corporate administration employees and board members, certain consulting expenses, investor and shareholder relations activities, and all of the Company’s legal, auditing and professional fees.

 

Elimination entries included in the “Eliminations” column represent intersegment revenues and cost of revenues that are eliminated in consolidation. Intersegment sales by the SDC segment to the CVD Equipment segment for the three months ended June 30, 2024 and 2023 were $132,000 and $138,000, respectively and $147,000 and $266,000 for the six months ended June 30, 2024 and 2023, respectively. There were no intersegment sales by the CVD Equipment segment to the SDC segment during the three and six months ended June 30, 2024. Intersegment sales by the CVD Equipment segment to the SDC segment for the three months and six months ended June 30, 2023 were $64,000.

 

 

Notes to Condensed Consolidated Financial Statements

(Unaudited)

 

NOTE 10: SEGMENT REPORTING (continued)

 

The following table presents certain information regarding the Company’s segments as of and for the three months ended June 30, 2024 and 2023 (in thousands):

 

2024

 

   CVD
Equipment		   SDC  

CVD

Materials

   Eliminations   Corporate   Consolidated 
Assets  $29,368   $4,310   $222   $(55)  $-   $33,845 
                               
Revenue  $4,107   $2,315   $55   $(132)  $-   $6,345 
Operating (loss) income   (729)   714    (45)   (8)   (830)   (898)
Pretax (loss) income   (743)   714    (45)   (8)   (679)   (761)
Depreciation and amortization  $141   $13   $-   $-   $-   $154 
Purchase of property, plant & equipment  $101   $4   $-   $-   $-   $105 

 

2023

 

  

CVD

Equipment

   SDC  

CVD

Materials

   Eliminations   Corporate   Consolidated 
Assets  $32,139   $4,189   $483   $(28)  $-   $36,783 
                               
Revenue  $3,134   $1,795   $342   $(202)  $-   $5,069 
Operating (loss) income   (445)   363    *(224)   (28)   (898)   (1,232)
Pretax (loss) income   (445)   364    *(203)   (28)   (791)   (1,103)
Depreciation and amortization  $136   $12   $79   $-   $-   $227 
Purchase of property, plant & equipment  $78   $-   $-   $-   $-   $78 

 

*Includes loss on sale of Tantaline of $0.2 million and impairment charge related to MesoScribe fixed assets of $0.1 million.

 

 

Notes to Condensed Consolidated Financial Statements

(Unaudited)

 

NOTE 10: SEGMENT REPORTING (continued)

 

The following table presents certain information regarding the Company’s segments as of and for the six months ended June 30, 2024 and 2023 (in thousands):

 

2024

 

   CVD
Equipment		   SDC  

CVD

Materials

   Eliminations   Corporate   Consolidated 
                         
Revenue  $7,054   $4,246   $114   $(147)  $-   $11,267 
Operating (loss) income   (2,173)   1,346    (71)   10    (1,638)   (2,526)
Pretax (loss)
Income		   (2,188)   1,346    (71)   10    (1,330)   (2,233)
Depreciation and amortization  $283   $24   $-   $-   $-   $307 
Purchase of property, plant & equipment
  $178   $4   $-   $-   $-   $182 

 

2023

 

   CVD
Equipment		   SDC  

CVD

Materials

   Eliminations   Corporate   Consolidated 
                         
Revenue  $8,979   $4,107   $1,009   $(331)  $-   $13,764 
Operating (loss) income   (267)   994    (143)*   (28)   (1,976)   (1,420)
Pretax (loss)
Income		   (265)   996    (95)*   (28)   (1750)   (1,142)
Depreciation and amortization  $267   $24   $101   $-   $-   $392 
Purchase of property, plant & equipment  $215   $10   $-   $-   $-   $225 

 

*Includes loss on sale of Tantaline of $0.2 million and impairment charge related to MesoScribe fixed assets of $0.1 million.